As of July 2016, just 15% of homeowners in Houston carried flood insurance. This number has increased since Hurricane Harvey, but far too many homeowners in this bayou city are still without flood protection. Here is why you should purchase flood coverage:
Flood insurance is not included in your home insurance policy: Some people don’t even realize they are without coverage until the worst happens. Your home insurance carrier will deny all claims relating to rising waters entering the home.
Flood insurance is not expensive: With rates starting at just $349 a year for $100,000 in building coverage and $40,000 in contents coverage, flood insurance is the best value insurance that money can buy.
Disaster assistance is not enough to rebuild or elevate your home: Even a few inches of flood water can cause devastating and costly damage, and a handout from the government will likely cover just a small fraction of your expenses.
Flooding is unpredictable: Many homes that flooded during the Memorial Day floods in Houston in 2016 were unaffected by Harvey …. and vice versa. Urban development, weather patterns, and other factors mean that literally anywhere in Houston is at risk of flooding.
You’re grandfathered in: Flood maps in Houston are expected to change as more severe weather events become the norm. Buy a preferred zone flood policy now and keep it active, and you’ll keep the same low rate even if your neighborhood gets rezoned and premiums double.
Flood season is coming: June through October is when the most severe weather events occur in Houston. There is a 30-day waiting period after you purchase flood coverage before the policy takes effect, so get your protection in place before the rain arrives!